Retail investors begin subscription to Scientific and Medical Equipment's 600,000 shares today

Logo of Scientific and Medical Equipment House Co.

Retail investors will start today, Jan. 31, subscription to about 600,000 shares of Scientific and Medical Equipment House Co. (SMEH) at SAR 52 each, as stated in the book-building process.

The Capital Market Authority (CMA) approved on Nov. 3, 2021, the company’s application for IPO of 6 million ordinary shares, or 30% of the company’s SAR 200 million issued share capital.

The retail tranche subscription process will run for four days until Feb. 3.

Subscription by institutional investors ended last week, as it was 65x oversubscribed.

This will be the second IPO on Tadawul's primary market in 2022, after the IPO of East Pipes Integrated Company for Industry.

Last year witnessed nine IPOs, including Almunajem Foods Co., Alkhorayef Water and Power Technologies Co., Theeb Rent a Car Co., Tanmiah Food Co., Arabian Internet and Communications Services Co (solutions), International Company for Power and Water Projects (ACWA Power), Arabian Contracting Services Co. (Al Arabia), Nayifat Finance Co., and Saudi Tadawul Group.

Company Info:

The company has been working in the field of operation, maintenance, and healthcare since 1979. It is considered one of the leading companies in this field.

SMEH also operates in the construction of non-residential buildings, such as schools, hospitals and hotels, in addition to providing building maintenance and general building cleaning services.

As per its bylaws, the firm operates in agriculture and fishing; mines and oil; manufacturing as per industrial licenses; electricity, gas, and water; construction and building; transportation, storage, and refrigeration; financial services and

business; social, collective and personal services; commerce; information technology as well as safety and security.

SMEH and its subsidiaries own 19 commercial agencies for leading and international companies in medical devices and equipment.

The company is an official commercial agent for those international companies in the Kingdom, which helps the firm provide integrated medical services to its clients in the public and private sectors, including the sale, supply and maintenance of medical equipment and devices.

The company owns stakes in the following limited liability companies:
 

- Girgas Pharmaceutical Warehouse Co., a wholly-owned subsidiary, which undertakes the activities of pharmaceutical warehouses, retail sale of devices, equipment and medical supplies. Girgas holds a 99% stake in Naqaa Al Mutaheda.
 

- Roaa Al Hymaya, a 100%-owned subsidiary, which specializes in import, export, wholesale and retail sale of electronic, electrical and mechanical equipment and devices, laundries, incinerators equipment, pumps, generators and their spare parts and maintenance, in addition to the maintenance of specialized medical devices.
 

- NABD Medical Industries, a 51%-owned subsidiary, which manufactures pacemakers, electrocardiograms, catheters, as well as feeding and suction tubes.

Company's Properties:

The company owns three properties, along with 28 leased properties.

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